Western Digital Corp Q1 Profit Decreases, misses estimates

Western Digital Corp (WDC) reported earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $27 million, or $0.08 per share. This compares with $610 million, or $1.93 per share, in last year's first quarter.

Excluding items, Western Digital Corp reported adjusted earnings of $64 million or $0.20 per share for the period.

Analysts on average had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 26.0% to $3.736 billion from $5.051 billion last year.

Western Digital Corp earnings at a glance (GAAP) :

-Earnings (Q1): $27 Mln. vs. $610 Mln. last year.
-EPS (Q1): $0.08 vs. $1.93 last year.
-Analyst Estimates: $0.39
-Revenue (Q1): $3.736 Bln vs. $5.051 Bln last year.

Next quarter EPS guidance: -$0.25 to $0.05
Next quarter revenue guidance: $2.90 Bln-$3.10 Bln

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